Hy-Tech Engineers IPO subscription hits 87.25X on final day, led by NII demand.
NII portion reaches 177.30X subscription, while retail category records 95.27X.
₹44 GMP signals potential 83% listing gain at the ₹53 upper price band.
Hy-Tech Engineers IPO Subscription Surges To 87 Times; GMP Signals 83% Listing Gain
NII demand leads the issue at 177 times, while ₹44 GMP points to a potential 83% listing gain
Hy-Tech Engineers IPO Subscription Surges To 87 Times; GMP Signals 83% Listing Gain
Summary
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Hydraulic fitting manufacturer Hy-Tech Engineers continued to see strong demand on the last day of its initial public offering (IPO), with the issue receiving 87.25 times subscription as of 11:20 am on Thursday, according to NSE data.
The ₹136-crore IPO received bids for 1,58,32,23,690 shares against 1,81,45,406 shares on offer. Non-institutional investors led the demand with 177.30 times subscription, followed by retail investors with 95.27 times subscription.
Hy-Tech Engineers IPO GMP
In the grey market, Hy-Tech Engineers shares were commanding a GMP of ₹44 on the morning of August 27, according to InvestorGain. At the upper end of the IPO price band of ₹53, the GMP translates into a potential listing gain of 83%.
Investors must note that the grey market premium (GMP) is an unofficial indicator and can change before listing. It does not guarantee the actual listing price or returns.
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IPO Details
The IPO comprises a fresh issue of shares worth ₹60 crore and an offer for sale (OFS) of 1.42 crore equity shares worth ₹75.73 crore at the upper end of the price band.
The issue has a price band of ₹50-53 per equity share and will close on August 27. The company's shares are proposed to be listed on the BSE and NSE on September 1.
Ahead of the issue launch, the company raised ₹40.72 crore from eight anchor investors. Hy-Tech Engineers said it allotted 76.83 lakh shares to anchor investors at ₹53 per share.
WhiteOak Capital Asset Management, part of the White Oak Capital Group founded by veteran investor Prashant Khemka, emerged as the largest anchor investor, accounting for 43% of the total allocation.
The company reported a 15.15% year-on-year increase in profit to ₹22.6 crore in FY26, while revenue from operations rose 17.4% to ₹189.4 crore.
Hy-Tech Engineers plans to utilise ₹29.96 crore from the net IPO proceeds for procurement of machinery and equipment for expansion at its Kavathe Unit, Shirwal Unit and Pithampur Unit-I.
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Another ₹16 crore will be used for repayment of loans, while the remaining proceeds will be used for general corporate purposes.